From all quarters, we hear alarm about the state of our infrastructure. We hear demands for heavy spending to dig trenches, lay rail, pave roads, build bridges, and deepen ports. Without these investments, we are warned, we will lose economic competitiveness, degrade our quality of life, and invite physical calamity.

Lucky for the country, it is a false alarm; a specious crisis. Yes, we suffer deficiencies that require spending. Worse, we suffer cynical exaggerations from politicians; intellectual complacency within the media; shameful gimmicks in public budgets; and persistent inefficiency in public management. Fix these latter problems while increasing investment modestly, and we will be on course for a transportation system that is clean, safe, efficient, and affordable.